Korean Won
South Korea's customs authorities announced plans for a nationwide special inspection targeting suspected illegal trade and foreign exchange practices amid the won's ongoing depreciation. The probe will cover 1,138 companies showing significant discrepancies between reported trade data and bank payments.
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In a follow-up to December meetings, top South Korean financial officials on January 8 stated the Korean won's excessive weakness has eased since late last year, though FX market volatility remains high. They pledged continued stabilization amid a rate of 1,449.10 won per dollar.